A company that manages social media accounts for former U.S. President Donald Trump is suing its former co-founder, Derek Utley, for allegedly stealing at least $5 million from the firm. The lawsuit, filed in U.S. District Court in West Palm Beach, Florida, claims that Utley used the stolen funds to support a luxurious lifestyle and a gambling addiction. According to the lawsuit, in 2025 alone, Utley gambled $29 million at a single casino’s slot machines and lost $3 million. The company, X Strategies, also alleges that Utley spent embezzled money on luxury cars, designer clothing, opulent condos, extravagant vacations, and events attended with an entourage. X Strategies is responsible for managing Trump’s social media presence on platforms like X (formerly Twitter) and TikTok. The company was co-founded in 2017 by Utley and CEO Alex Bruesewitz, who was 19 at the time. Utley held positions that gave him exclusive access to the company’s financial accounts and records. The alleged embezzlement was discovered earlier this year when the company hired Michael Seifert as president, who noticed that X Strategies should have had significantly more cash on hand than it actually did. Utley resigned from his executive roles in April and relinquished his 50% ownership, but he continued working until he was fired for allegedly falsifying medical records to request a six-month paid leave following a purported car accident. Utley has denied the allegations and said he will address them through legal channels. He did not immediately respond to a request for comment from The Independent. Bruesewitz, the CEO, declined to comment when contacted by The Independent. The White House also did not respond to inquiries about the matter. The lawsuit also names Utley’s former girlfriend, Anna Weisheimer, as a co-defendant, accusing her of helping him launder the stolen funds. Weisheimer, who is also known as Anna DiCenzo and is a social media model and Pilates instructor, denied any involvement in the alleged misconduct. She told The Independent she had no connection to the dispute between Utley and Bruesewitz and asked to be removed from the lawsuit. She said she briefly dated Utley, during which time she asked him to buy a Pilates studio for her, but he declined, and the relationship ended shortly after.